Measured and Managed Innovation Programme

Transcription

1 Measured and Managed Innovation Programme

2 2 3 INNOVATION is more than product development; it is about creating new value. This is essential for growth and profitability in all business sectors. In order to survive and remain competitive, companies must constantly innovate to introduce new products, services, processes, or business models which generate new value. The Measured and Managed Innovation Programme (MMI) introduces a strategic approach to innovation management. This will help Nordic companies measure and focus their innovation efforts in order to increase their return on innovation and become more competitive. The programme is developed by the Nordic Innovation Centre (NICe), in cooperation with the national innovation agencies in the Nordic region: Tekes, Vinnova, Danish Enterprise and Construction Authority, Danish Agency for Science, Technology and Innovation, Trade Council Denmark, Innovation Center Iceland (IMPRA), Innovation Norway and the Norwegian Research Council. The programme is carried out during the period of , with participation from 100 Nordic companies. DID YOU KNOW THAT... A recent European innovation study by INSEAD, one of the world s leading business schools, rate the Nordic countries as weak when it comes to measuring and implementing innovation. The Measured and Managed Innovation Programme s aim is to increase the effectiveness and profitability of Nordic businesses innovation efforts. The Measured and Managed Innovation Programme will enable Nordic businesses to: Visualize and Brainstorm: Explore dimensions of their innovation investments in a systematic and holistic manner Diagnose: Identify the gaps in innovation performance of their business systems Benchmark: Benchmark the innovative capabilities of their business within and across industries Design New Ventures: Design and track the development of complete business systems Manage Across the Portfolio: Get a holistic view of their innovation initiatives VISUALIZE & BRAINSTORM MANAGE INNOVATION PORTFOLIO MMI DESIGN & DEVELOP DIAGNOSE BENCHMARK

3 4 5 INNOVATION MANAGEMENT TOOLS In order to develop a successful innovation strategy, companies will benefit from a common framework and tools to measure and manage their innovation activities in a holistic manner. Since early 2008, the Nordic Innovation Centre (NICe) has studied and tested internationally acclaimed innovation tools with the aim to find and introduce the most effective tool to improve the competitiveness of Nordic businesses. One of the most promising and acknowledged tools identified through this testing is the Innovation Radar, which forms the basic framework for the MMI Programme. Networking Brand OFFERINGS (WHAT) Platform Solutions THE INNOVATION RADAR The Innovation Radar is a tool, developed by the Kellogg School of Management s researchers; Mohan Sawhney, Robert C. Wolcott and Inigo Arroniz. The radar provides a 360 degree visual overview of companies' current innovation focus and strategic positioning. This is a result of an extensive data analysis based on an online assessment test performed by six or more managers from the company. The radar profile serves as a point of departure for strategic development and broadens the spectrum beyond product delivery and into value creation, by covering innovation in four major business dimensions: Offerings a company creates (WHAT) Customers it serves (WHO) Processes it employs (HOW) Points of Presence it uses to take its offerings to market (WHERE) From these four dimensions, the radar will enable businesses to innovate in 12 areas: Offerings, platform, solutions, customers, customer experience, value capture, processes, organization, supply chain, presence, networking and brand. PRESENCE (WHERE) Supply chain Organization PROCESSES (HOW) Bank 1 Bank 2 Bank 3 Bank 4 Value Capture CUSTOMERS (WH0) Customer Experience Source: Mohanbir Sawhney, Robert C. Wolcott and Inigo Arroniz, Kellogg School of Management, Northwestern University

4 6 7 Programme process The programme consists of modules divided into three phases: Phase 1 One day national workshop introducing MMI and the Innovation Radar First company innovation test and Company deep-dive strategic workshop with certified consultants: Company analysis Innovation strategy development Innovation portfolio management Phase 2 Second company innovation test and Mid-term Nordic innovation seminar: Nordic and international innovation experts Competitive benchmarking at national and Nordic levels Networking with top managers of 100 innovative Nordic companies Phase 3 Third company innovation test and Final Nordic Seminar: Nordic and international innovation experts Competitive benchmarking at national and Nordic levels Networking with top managers of 100 innovative Nordic companies PARTICIPATION 100 ambitious Nordic companies participate in the MMI programme. These are selected by the national innovation agencies. The companies are from various product- and service sectors, representing different parts of the value chain. Nordic business schools will follow the programme closely and perform statistical benchmarking studies of the participating companies innovation profiles and investments. This will enable Nordic companies to measure their innovation focus against other companies and industries in the region. These studies will generate new knowledge, which will serve as inputs for future innovation policies, business school curricula and designing more effective innovation support programmes. For more information and recent news and updates, please visit: /mmi

5 Nordic Innovation Centre (NICe) is an institution under the Nordic Council of Ministers facilitating sustainable growth in the Nordic economies. Our mission is to stimulate innovation, remove barriers and build relations through Nordic cooperation. We encourage innovation in all sectors, build transnational relationships, and contribute to a borderless Nordic business region. We work with private and public stakeholders to create and coordinate initiatives which help Nordic businesses become more innovative and competitive. Nordic Innovation Centre is located in Oslo, but has projects and partners in all the Nordic countries. Read more about us at: For more information about the programme, please contact: Jørn Bang Andersen Senior Innovation Advisor j.andersen@nordicinnovation.net Hans Christian Bjørne Innovation Advisor h.bjorne@nordicinnovation.net Programme partners: at the Kellogg School of Management